Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-12-10
TALK OF THE CAPITOL
INCREASING PROSPECT OF The SETTLE
MENr OF TIE PUBLIC DEBT.
Mr.. Royal Authorised to Propose q Com
promiss-BlacksbuTg College and Its
Finsncss-Big Railroad Scheme.


Washington this morning to accompany
a committee from the University of Vir-
ginia to see the President, and invite him
to be present at the commencement ex-
ercises of the university next summer.
They wish to speak thus early so that
The President may have ample time, If
he will consent to make the visit, to tit
it in with his other engagements.
THE DEBT.
Governor Lee said yesterday that he
felt very hopeful indeed about securing
a debt-settlement.
The general opinion is that by con-
servative management the creditors can
be induced to come in in q body and
fund, and that that will not only put the
coupon question out of sight forever,
but Will run the new Virginia 3's up to
high figures.
With many members OF the Legisla
ture the opinion is that the creditors
oaght now to ask formally for Il
conference with the State and
tsere is not much doubt that if
requested it would be granted. The
Legislature could either appoint a
special joint committee. or could refer
the subject to the two finance committees.
Most members regard a conference as in
dispensabIe before all the questions that
irritate the bodys polite can be COM
pletely removed. for while the habeds-
corpus decision is a great victory for us
it still leaves unmolested the right of the
taxpayer to offer his coupons for verlti-
cation in accordance with the statute.
MR.. RoYALL.
Day before yesterday Mr.. Royal, in
conversation with the Governor said
that he believed if the Legislature, as
requested, passes a joint resolution sus-
pending for a short time "the coupon
crusher," he could bring about settle
ment OF the debt. He said that he had
been in correspondence with his clients
the Council Of Foreign Bondholders--
and had received a cablegram ad
thorizing him to treat with the Legisla-
ture; in other words. had been given
authority to open negotiations. As to
the terms to be proposed, Mr.. Royal
WIS not prepared to explain, but he ex-
pressed the belief that a settlement could
be effected.
Mr.. Royal said the same thing yester
day to n press representative, adding
"The thing to do is to suspend all hos
tile proceedings, because YOu cannot get
people to negotiate when war Is going on
between them"
Pending the truce Mr.. Royal will
undertake for his people that no coupons
shall be used for taxes.
Governor Lee in his message recon-
mended that the suspension asked for
be granted but until the House commit
tees are appointed it is improbable that
anv action will be taken. When that is
done no doubt the House Finance Com
mittee and the Senate Finance Commit
tee will be instructed to inquire and
report what course should be pursued.
Mr Royal can then appear before them,
mike his statement, and explain in per-
son the advantages likely to accrue to
the State from the proposed negotia-
tons.
Exactly what will be done cannot be
foretold, but the prevalent spirit is to
cli.s Up this question as quickly and as
eaoctually as possible. At present mem
bers have so little detailed information
upon which to base opinion that they
are quite reticent as to the eXteut they
would be willing to go in order that the
debt agitation shall be buried beyond the
hope OF resurrection.
BLACKsBUEG COLLEGE.
The following is the letter referred to
in the Governors message concerning
the needs of Blacksburg College:
DLAcKsDURG, Va, November IS, 1897,
Gorcrnor Fitshugh Lee, Richmond, "a;
Dear Sir,-In reply 10 yours Of tho 18th would
state that this college now has ljS matriculate-.
with every prospect Of n large increase. We have
/ barrack-rOOm for only eighty-fOur men, and that
/ by placing IL some rooms three students. have
/ been forced 20 rent 0nd furnish rooms in town
| for the remaining students at great expense TO
/ tho college, rs stoves havo 10 be provided, coal
/ furnished. &c. The state Is pledged to furnish
quarters for eco students, and IL IS 10 carry out
! this pledge that quarters are rented outside. j.
| Is useless % state 20 You what severe test OF
discipline and system n Is having stuicut- scat
| tered all over small village. The building now
used as barrack was originally built Tor tho
/ Preston & Olin Institute. lt was divided INTO
| large lccture-rooms; these rooms we're subdi-
yiGcd into smaller ones. Of unequal Sizes, al
/ opening on a common hall, aud totally unsuited
| for the purposes now used
/ The fOors are In such condition that they
/ cannot be secured without drenchirg the rooms
/ below. The building cannot be properly heateG
Ii costs from s0O % 500 10 keep this Old build
/ log in repair for each year.
! The outer walls OF this old building are good.
! ani Il Is proposed 10 change IL into Machine
| shop, $4,000 being asked for this purpose, and
| % purchase an engine ana ma.hinery fOf itoh-
| working. Tho present machine shop Is small
| wooden building, and entirely too small Tor The
We need barracks for three hundred men; an
/ estimate OF $4,000 Il made tor .hls pur-
/ pose, supplying gas, water, and proper drain
| We have received nothing from the state since
/ ISIS The money derived from the land grant,
/ aud which can only be used for tuition, purchase
I OF chemicals, &C, has boen used 10 pay the run
Ming and contingent expenses Of the college.
! An annual Appropriation Is asked Of $4,000 TO
supply the needs OF the college, purchase OF
fuel, lan..ors fees, and necessary expenses
! The faculty consists Of president and eight
professors. OF these. quarters are furnished
/ Tor only Eve the others drawing commulatiOn Of
! quarters at the rate Of $3.50 per year.
II is proposed 10 build quarters for the faculty
! out OF any surplus that may arise after building
quarters for students and out OF the contingent
/ fund.
! / enclose report Of the fund received by tho
| college since ia foundation from the state and
I other sources. Respectfully. l.. J.. LohAX.
srArEMEST OF FUNDS APPROPRIATED FOR THE
] VIRGINIA AGRICULTURAL AND MECHANICAL COL
/ LEGE ny THE STATE AND COUNTY.
! L The town Of Backsburg and tho Pres
/ ton and Olin Institute. 10CnO
! Montgomery county ................... 210O0
| Legislature 81 1877. 74................. 1900
! Legislature of 1874 4-7j................... 1901
/ Legislature Of 1S75-'76................-.. 1900
Legislature Of lS76..... ................ f1U
Legislature Of ls77-'75. i0,s3
Total. S1O?,OS3
VALUE or REAL ESTATE, &C.
/ Campus, purchase price. ...............s SOD
! Farm, purchase price. 22C00
I AZ an